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Record first quarter for used car sales

Date: 19 May 2017   |   Author: Daniel Puddicombe

Data released by the Society of Motor Manufacturers and Traders has revealed that 2,133,956 used cars changed hands in the first quarter of 2017.

According to the SMMT, this is a new record for the first three months of the year and represents a 3.4% uplift compared with Q1 2016.

Diesel and petrol sales both grew - up 5.6% and 1.6% respectively - while the SMMT claimed that one in five used cars sold during the first three months complied with the latest Euro 6 emissions standards.

Used alternatively-powered vehicle volumes also grew, up 43.2%, to 21,320 units - representing 1.0% of the market, compared with 0.7% last year.

The SMMT also said the mini car segment was the fastest-growing, with sales up 13.2%, while silver remained the most popular second-hand car colour choice.

Echoing new car registration figures, the Ford Fiesta topped the used car sales charts, on 101,840 transactions, followed by the Ford Focus (94,889) and Vauxhall Corsa (91,264).

"A buoyant used car market combined with strong residual values is good news for the sector, with motorists benefitting from the wide range of models and high-tech safety and connected features entering the market. Diesel cars remain as popular as ever, with consumers now able to take advantage of the low emission Euro 6 diesels available in the used car market," said Mike Hawes, SMMT chief executive. "It's also positive to see sales of used electric and hybrid vehicles rise, reflecting what we have seen in the new car market. To ensure this growth is maintained and the benefits of low emission vehicles spread quickly throughout society, continued investment in infrastructure, incentives and a tax regime that encourages demand is essential."